4,789 Shares in Paylocity Holding Corporation $PCTY Acquired by Evolve Private Wealth LLC

Evolve Private Wealth LLC acquired a new position in shares of Paylocity Holding Corporation (NASDAQ:PCTY) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 4,789 shares of the software maker’s stock, valued at approximately $501,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PCTY. Optiver Holding B.V. grew its holdings in shares of Paylocity by 5,925.0% during the 1st quarter. Optiver Holding B.V. now owns 241 shares of the software maker’s stock worth $26,000 after purchasing an additional 237 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of Paylocity in the second quarter worth $27,000. Basecamp Wealth Advisors LLC raised its stake in Paylocity by 4,250.0% in the first quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker’s stock valued at $28,000 after purchasing an additional 255 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Paylocity in the fourth quarter valued at about $30,000. Finally, Elevation Wealth Partners LLC lifted its position in Paylocity by 500.0% during the second quarter. Elevation Wealth Partners LLC now owns 342 shares of the software maker’s stock worth $36,000 after purchasing an additional 285 shares during the period. 94.76% of the stock is owned by institutional investors and hedge funds.

Paylocity Stock Performance

Paylocity stock opened at $152.24 on Wednesday. Paylocity Holding Corporation has a 12-month low of $92.99 and a 12-month high of $181.97. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.07. The business’s 50-day moving average price is $128.01 and its two-hundred day moving average price is $115.47. The stock has a market cap of $8.08 billion, a PE ratio of 30.76 and a beta of 0.47.

Paylocity (NASDAQ:PCTY) last issued its earnings results on Tuesday, August 4th. The software maker reported $1.84 EPS for the quarter, topping the consensus estimate of $1.62 by $0.22. The firm had revenue of $444.73 million during the quarter, compared to the consensus estimate of $431.46 million. Paylocity had a return on equity of 27.02% and a net margin of 15.23%.The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.56 earnings per share. As a group, analysts expect that Paylocity Holding Corporation will post 6.86 earnings per share for the current fiscal year.

Insider Activity at Paylocity

In related news, CFO Ryan Glenn sold 3,345 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $149.75, for a total value of $500,913.75. Following the completion of the transaction, the chief financial officer owned 122,563 shares of the company’s stock, valued at $18,353,809.25. This represents a 2.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Andrew Cappotelli sold 2,550 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $149.83, for a total transaction of $382,066.50. Following the completion of the sale, the senior vice president owned 44,329 shares in the company, valued at $6,641,814.07. This represents a 5.44% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 30,300 shares of company stock valued at $4,553,607 in the last quarter. 19.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on PCTY. TD Cowen increased their price objective on shares of Paylocity from $168.00 to $177.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Citigroup restated a “buy” rating on shares of Paylocity in a research report on Thursday, August 6th. UBS Group upped their price target on shares of Paylocity from $122.00 to $128.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Citizens Jmp reduced their price target on shares of Paylocity from $170.00 to $150.00 and set a “market outperform” rating on the stock in a research report on Friday, May 8th. Finally, BTIG Research boosted their price objective on shares of Paylocity from $150.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $160.53.

About Paylocity

Paylocity (NASDAQ: PCTY) is a leading provider of cloud-based payroll and human capital management (HCM) software designed to streamline workforce administration for mid-sized organizations. The company’s integrated platform automates core functions such as payroll processing, benefits administration, time and labor tracking, and compliance management, enabling employers to manage employee data more efficiently and reduce administrative burdens.

In addition to payroll and HR capabilities, Paylocity offers talent management solutions including recruiting, onboarding, performance tracking, and learning management.